Global Autos Update: US Thaws And BRICs Crumble
The first quarter of 2014 has seen major automotive markets behaving largely as expected, with the European upturn gaining momentum, while some of the once high-growth emerging markets lose steam. Warmer weather saw the US return to its positive growth trajectory but Japan may have seen its last month of double-digit gains.
European Growth Gathers Momentum
The large passenger car markets of Western Europe (UK, France, Germany, Spain and Italy), posted strong y-o-y increases in Q114, building on generally positive momentum from the second half of 2013. Indeed, we have become increasingly bullish on the regional outlook following substantial upward revisions to our 2014 sales forecasts for some markets, and we now forecast combined growth of 3.5% for these major markets for the full year.
|Pent-Up Demand Buoys Market|
|Spain Monthly Passenger Car Sales (LHS) And Historical Data And Forecasts (RHS), Units|